Iqaluit port a “key component” for diamond mine project, Peregrine says

This map shows the location of the Chidliak diamond mine project, 120 kilometres northeast of Iqaluit. (IMAGE COURTESY OF PEREGRINE)

The announcement that Ottawa is willing to kick in money to build a new port facility in Iqaluit comes as welcome news for Peregrine Diamonds Ltd., whose Chidliak project lies 120 kilometres northeast of Iqaluit.

Such a deep-sea port and small craft harbour in Iqaluit in Nunavut’s capital would be “a key component of the infrastructure required to construct and operate a diamond mine at Chidliak,” Peregrine said in a July 31 news release.

On July 30 Nunavut MP Leona Aglukkaq, said the federal government would commit $63.7 million for the $84.9-million project to build the maritime infrastructure for Iqaluit.

On its nearby Chidliak property, Peregrine has discovered 71 kimberlites, eight of which have the potential to become economically viable.

The company, which estimates there’s 8.57 million carats of diamonds in those kimberlites, now wants to increase that resource base for Chidliak project.

In 2016, Peregrine plans to start a preliminary economic assessment of Childliak.

If Peregrine is successful in developing a diamond mine at Chidliak, Iqaluit will be “an important supply point for mine construction and ongoing operations”, the company said.

“We are very pleased to see a commitment by the Governments of Canada and Nunavut to the building of a modern port in Iqaluit,” said Tom Peregoodoff, Peregrine’s president and CEO, in the recent company release.

In addition to being a key component of the infrastructure required to construct and operate a diamond mine at Chidliak, the efficiencies that the port will bring will improve the quality of life and lower the cost of living for the people of Iqaluit and the communities on Baffin Island,” Peregoodoff said.